NMI (NASDAQ:NMIH) Hits New 52-Week High - Still a Buy?

Key Points

• NMI Holdings shares reached a new 52-week high of $43.38, with the stock recently trading around $43.27. Its consensus analyst rating is “Moderate Buy,” with an average price target of $46.00.
• Analysts have generally raised their outlook, including JPMorgan’s increase to a $48 target and Keefe, Bruyette & Woods’ increase to $47; four analysts rate the stock a Buy and one rates it a Hold.
• NMI reported quarterly EPS of $1.28, beating estimates by $0.06, while revenue rose 5.9% year over year to $183.47 million. Institutional investors own a substantial 94.12% of outstanding shares.

NMI Holdings Inc (NASDAQ:NMIH - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $43.38 and last traded at $43.2670, with a volume of 187618 shares. The stock had previously closed at $42.75.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of NMI from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. increased their price objective on NMI from $43.00 to $48.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of NMI from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. Barclays dropped their target price on shares of NMI from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. Finally, Royal Bank Of Canada started coverage on NMI in a research report on Friday, May 22nd. They issued an "outperform" rating and a $46.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

NMI Price Performance

The firm has a market cap of $3.28 billion, a PE ratio of 8.80, a P/E/G ratio of 1.48 and a beta of 0.54. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.16. The firm's fifty day simple moving average is $39.03 and its two-hundred day simple moving average is $38.85.

NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. The business had revenue of $183.47 million during the quarter, compared to analyst estimates of $153.99 million. NMI had a return on equity of 15.18% and a net margin of 53.82%.NMI's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS. As a group, research analysts expect that NMI Holdings Inc will post 5.11 EPS for the current year.

Insider Buying and Selling

In other NMI news, Director Michael Curry Montgomery sold 1,554 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total value of $58,896.60. Following the sale, the director owned 69,026 shares in the company, valued at $2,616,085.40. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NMIH. Wedge Capital Management L L P NC grew its stake in shares of NMI by 2.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 162,159 shares of the financial services provider's stock worth $6,663,000 after buying an additional 3,586 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of NMI by 11.6% during the second quarter. GAMMA Investing LLC now owns 2,989 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 310 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of NMI by 58.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider's stock worth $38,000 after buying an additional 372 shares during the period. Bank of America Corp DE grew its holdings in NMI by 22.7% during the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider's stock worth $48,937,000 after acquiring an additional 241,724 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in NMI by 5.9% during the first quarter. Edgestream Partners L.P. now owns 233,637 shares of the financial services provider's stock valued at $8,764,000 after buying an additional 13,003 shares during the period. 94.12% of the stock is currently owned by institutional investors.

NMI Company Profile

NMI Holdings, Inc NASDAQ: NMIH is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers' access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.